Selected data from the financial statements of Jones Hardware Company follows.

Required:
1. Calculate by how much accounts receivable, merchandise inventory, total assets, net sales, and cost of goods sold increased or decreased in dollar terms from 2010 to 2011.
2. Indicate what happened from 2010 to 2011 to accounts receivable and merchandise inventory as a percentage of total assets (rounded to the nearest whole percent). Indicate what happened from 2010 to 2011 to cost of goods sold as a percentage of net sales (rounded to the nearest whole percent).

Transcribed Image Text:

2011 2010 Accounts receivable Merchandise inventory Total assets Net sales Cost of goods sold 串60,000 12,000 450,000 380,000 160,000 38,000 16,000 380,000 270,000 210,000